| Show REPORT ON BANKING LAWS Hughes Committee Says State Banks Should Maintain Same Reserve as National Banks Alby N Y T Dec Deo D 17 The commit committee tee he of ot bankers appointed by Cov Gov Hughes during the monetary anie to o recommend mr of t f the th New NI Nework NII ork I lv reported rep to thu Ihu governor would tend to h t i FeUt vf nl the Ih development of Ut ud 11 tica Tho hl Ic r genrI expressed Ih w that In New York City 11 state should maintain the mm tame cah Jt a as al bunks banks S Sf f 11 c Kint ort nl and that truet trust c hould maintain also alo a K per cent re r rt irr t not nol nil all 11 In eRh in itt tl tt i n U own on A aIron nt It 14 i mad madi the practise ol Of promoters obtaining control of t a chain f t hunk hunks to further their thir own ends cOda ili that as New ew York YOCk City H I tin tI I l and Mild vii viii h hr I r i i this her r each cush res 1 ieca r a hul nut tt b to become Sm Im Sma a l i it itTIs l Th h ii i that the theat 1141 at t L I i ii nt of ut banks b bo bu em emIt emLi t Li ti It ill I ti II pi pia o 0 oa a It batik bank 01 ni mi lI i r nn or a brict or the tilt run hun i n of wm one OI balk inu nl h b I another a Ober TIta Is believe vc that liat hanUs hanUsIn In lii New X Yet It i Hy ily It should not 1101 hereafter 11 lie vt ti nave ave branches unless It the r a capital of and thinks that the bunks JUnk and nd trUst com Om uhl VH h It required rOIl II Ired to furnish an capital for tor each 01 branch In general the thea committee would In Increase crease lr and make more mor direct 1 and lid In III the control of Ih IhIe the Ute elate Ie over all Institutions In the matter tier of ot Ht and antl loan IOIA the commute recommend a that It be ha b mud made compulsory that all loans discounts IU KiltS and pun of Q cumm patter ater utah shall be LU b rend read to 10 the lb Ih directors rr yr r I submitted In writt ii form at th lb meet I next the lIt II making of or the tb Ib aetna and Intentional of ct the Iii ot of suds Much loan discounts or purchases pu huea should houleS be b made mad a 1 misdemeanor meanor und would penalize the In Interchange of oC d depOsits by which dirc directors tors and loan lout en m InI I UI ol ar aI are enabled DAbI l La control of ot a chain of banks banka nka Pointing out that the he capital stock cLock of ut hJ sill 1 hank banks and nd trust ruL I companies doIng In the th state of Nw ra York amounts In sit round numbers num to MW OO and the I he market I Is I several times timea Um larger the Ib committee e says IMI that thaI It lt WoUld be ho clearly clearl an n In iii Invidious h and unjust discrimination agaInst banking mv tm to u It th Ih the vm uc at of such lOUd l k as a fur for loans 1 It In Is I suRK Id however that thet loam upon un stock toek It h I U Ie 10 p Ir r of f tin 11 Ii Ital of If the ilo Ih lIon hi h se m ct 1 i k i i oK o r e J Jas as its nf lit I if 1111 u i limn I I It lh Iii IiiI I desla 41 ie II I ls I win v Id oats lUll and S banking ii may fIlA legitimately In lit ii 11 H Pt v n lures I un an hl balk hsnk a C trust Irua ny M to I II di dIC tiara trusts Iala of hr f Ih th dIU list un 0 n l tWill Ight to 10 tu 1 Hi Ih ii n n fullS I lt it of lit II a In lit III Ih n t linn lu luor or of i lines II power JoI a r s of ut like Ilk I II Ii I would nul l also alto an 1 j 1 ii or al lIt lIther 4 4 44 here a her it tI the liMit halt I II liable in lit h any I I lie la It u lit i n l 1 that num I ii u oct 1111 in lit New York fly IlY b by r uI In 10 44 a N reserve r of ot U II 5 c t I MI MIor I or 44 l III hll Ii h li If I PHI pi left nt In hr I In II i iU i 01 ii U 1 I 1 lit 11 p rt eeg nt lii lit rn 01 I |
